Nomura Home Equity Loan, Inc., Series 2006-FM2, by HSBC Bank USA, National Association, solely in its capacity as Trustee, et al., Respondents,v.Nomura Credit & Capital, Inc., Appellant. (And Three Other Actions.)
Holding that extrinsic evidence was immaterial, in part because the contract plainly manifested intent that all prior understandings were merged into the contract, which expressed the parties' full agreement
Holding courts "may not by construction add or excise terms, nor distort the meaning of those used and thereby make a new contract for the parties under the guise of interpreting the writing."
Holding proof that “defendant's repudiation of the Agreement was motivated exclusively by its own economic self-interest” is insufficient to show willful misconduct
Finding material issue existed as to whether offering materials misstated right to tender in violation of §10(b) of the Exchange Act and §§ 11 and 12 of the Securities Act of 1933
104 F. Supp. 3d 441 (S.D.N.Y. 2015) Cited 34 times 1 Legal Analyses
Holding that reliance on BLS data was not unreasonable because, in part, the reunderwriting expert "was conservative in using BLS data, comparing borrowers' stated income only to the 90th percentile of income recorded by the BLS, the highest available figure."